GB Foods Corp.: The Newport Beach operator...

GB Foods Corp.: The Newport Beach operator of Green Burrito fast-food restaurants reported a net loss of $1.9 million, or 31 cents a share, for 1995, compared with a net loss of $4.5 million, or 87 cents a share, for 1994. Litigation settlements and related costs totaled $805,000 in 1995 and $2.9 million the previous year. Revenue was flat at $6.6 million. Fourth-quarter figures were not released. The company said it sold five of its 13 company-owned restaurants to a franchisee in October 1995, will close a restaurant Thursday, and is planning to sell two more later this year.